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Jul 10 - 07:55 AM

GBP/USD - Reclaims 1.26 Handle After Fibo Level Props

By Rob Howard  —  Jul 10 - 05:40 AM
  • 1.2608 marks the cable high since its early Ldn drop to 1.2569

  • Ascent to 1.2608 influenced by European equities recouping early losses

  • See: nL4N2EH1UG. Risk-sensitive GBP often benefits from equity gains

  • 1.2569 approximated to 23.6% Fibo of 1.2252-1.2668 nL1N2EH0DE

  • Fibo levels often corral GBP/USD, re: buy/sell orders placed nearby

  • 1.2668 = 12 pips shy of 76.4% Fibo of 1.2812-1.2252 nL1N2EG0F5

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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